Carlyle Group and Oppenheimer Funds formed a joint venture.

Carlyle Group, a private equity firm, and Oppenheimer Funds, one of the world's most reputable investment firms, formed a joint venture, which will provide global private credit opportunities for high net worth investors and advisors primarily focused on the U.S. market. Financial terms were not disclosed. The venture will be led by Co-Heads Kamal Bhatia, Head of Investment Solutions for OppenheimerFunds, and Mark Jenkins, Head of Global Credit for The Carlyle Group. The joint venture's initial focus will include allocation and underwriting across investments in opportunistic credit, direct lending, distressed transactions and structured credit assets in the U.S., Europe and Asia.